Snap Inc said on Tuesday its two senior advertising executives have exited the company, hours after a report disclosed the Snapchat parent was planning to cut about 20% of its workforce.
The executives Jeremi Gorman, chief business officer, and Peter Naylor, vice president of ad sales for the Americas, will join Netflix Inc, the streaming major said.
Snap shares fell more than 7% in premarket trading as Wall Street turns wary of the future of its advertising business, which brings in a large chunk of its revenue.
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